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🗞️ Driving the news: The European Union is set to unveil simpler, targeted state-aid rules to boost clean tech investments and enhance industrial competitiveness against the US and China
• The European Commission will introduce the Clean Industrial Deal on February 26, along with a new state-aid framework
• The plan includes measures to decarbonize production and improve industry positioning globally, addressing high energy prices in the region
🔭 The context: The new rules will allow member states to use grants, tax advantages, subsidized loans, and other tools to support clean technologies
• The goal is to accelerate renewable energy deployment and ensure adequate manufacturing capacity for clean technologies like solar, wind, and biofuels
• The framework aims to attract private capital, particularly from cautious investors like pension funds and insurers, by de-risking investments in clean tech projects
🌍 Why it matters for the planet: The initiative is designed to make the EU more competitive globally, especially against China and the US, while supporting the green transition
• National governments will be able to offer tax incentives, such as accelerated depreciation for clean-tech assets
• The framework also includes support for carbon capture equipment investments and other decarbonization projects
⏭️ What's next: The Clean Industrial Deal and state-aid framework will be formally unveiled in late February, with clear criteria for granting investment aid for clean-tech projects
• Member states will begin implementing the new rules to support clean-tech investments and decarbonization efforts
💬 One quote: "The goal is to accelerate the deployment of renewable energy and ensure sufficient manufacturing capacity of clean technologies" — European Commission (draft document)
📈 One stat: The new state-aid framework will support projects in biofuels, renewable fuels, solar, wind, and carbon capture, with a focus on increasing manufacturing capacity for clean technologies
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